N.M. Stat. § 40-3-14
Management and control of other community personal
property.
A. Except as provided in Subsections B and C of this section, either spouse alone
has full power to manage, control, dispose of and encumber the entire community
personal property.
B. Where only one spouse is:
(1)
named in a document evidencing ownership of community personal
property; or
(2)
named or designated in a written agreement between that spouse and a
third party as having sole authority to manage, control, dispose of or encumber the
community personal property which is described in or which is the subject of the
agreement, whether the agreement was executed prior to or after July 1, 1973; only the
spouse so named may manage, control, dispose of or encumber the community
personal property described in such a document evidencing ownership or in such a
written agreement.
C. Where both spouses are:
(1)
named in a document evidencing ownership of community personal
property; or
(2)
named or designated in a written agreement with a third party as having
joint authority to dispose of or encumber the community personal property which is
described in or the subject of the agreement, whether the agreement was executed
prior to or after July 1, 1973; both spouses must join to dispose of or encumber such
community personal property where the names of the spouses are joined by the word
"and." Where the names of the spouses are joined by the word "or," or by the words
"and/or," either spouse alone may dispose of or encumber such community personal
property.